Press Release

Stolt-Nielsen S.A. Announces Organizational Changes

London, England - July 20, 2007 - Stolt-Nielsen S.A. (Oslo B?rs: SNI) today announced organizational changes aimed at enhancing its competitive advantage and operational efficiency across the Company.  The changes take effect December 2007 and include the following initiatives:
                                                                    
  • Stolt-Nielsen Transportation Group will become two separate business units: Stolt Tankers & Terminals (ST&T) and Stolt Tank Containers (STC).  The new structure will enable ST&T to continue to focus on the global operational synergies between the tankers and terminals businesses.  STC will benefit from greater flexibility and focus to pursue its targeted growth strategy and markets worldwide.
  • Implementation of a single Stolt-Nielsen S.A. (SNSA) corporate shared services structure combining HR, IT and Finance under the SNSA umbrella to ensure the deployment of common standards and best practices Company-wide.
Stolt Sea Farm's business will be unaffected, apart from benefiting from certain of the shared services organizational changes.
 
Commenting on the changes, SNSA CEO Niels Stolt-Nielsen said, "Optimizing SNSA's organizational structure will enhance our ability to achieve competitive advantage and support the successful implementation of our global growth strategy."
 
Stolt-Nielsen recently reported good underlying second-quarter operating performance in all of its divisions.  Looking forward, the Company believes that its leadership positions in attractive markets and its operational strengths, underpinned by it's US$ 1.8 billion investment program, will allow SNSA to benefit from the growth opportunities created by the strong global economy.
 
For further information
 
Contacts:        Andrew Hayes/Blanaid Colley
                        Hudson Sandler
                        UK +44 (0) 20 7796 4133
                        [email protected]
                       
                        Jan Chr. Engelhardtsen
                        UK +44 (0) 20 7611 8972
                        [email protected]
                                                
About Stolt-Nielsen S.A.
Stolt-Nielsen S.A. (the "Company") is one of the world's leading providers of transportation services for bulk liquid chemicals, edible oils, acids, and other specialty liquids.  The Company, through the parcel tanker, tank container, terminal, rail and barge services of its wholly-owned subsidiary Stolt-Nielsen Transportation Group, provides integrated transportation for its customers.  Stolt Sea Farm, wholly owned by the Company, produces and markets high quality turbot, sturgeon and caviar.
 
Forward-looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements may be identified by the use of words like "anticipate," "believe," "estimate," "expect," "intend," "may," "plan," "project," "will," "should," "seek," and similar expressions. The forward-looking statements reflect the Company's current views and assumptions and are subject to risks and uncertainties. The following factors, and others which are discussed in the Company's public filings and submissions with the U.S. Securities and Exchange Commission, are among those that may cause actual and future results and trends to differ materially from the Company's forward-looking statements: the general economic conditions and competition in the markets and businesses in which the Company operates; changes in the supply of and demand for parcel tanker, tank container and terminal capacity in the markets in which the Company operates; changes in the supply of and demand for the products we transport, particularly the bulk liquids, chemicals and other specialty liquids that form the majority of the products that we transport; prevailing market rates for the transportation services that the Company offers and the fish products that the Company sells; changes in bunker fuel prices; the cost and feasibility of maintaining and replacing the Company's older ships and building or purchasing new ships; uncertainties inherent in operating internationally; the outcome of legal proceedings; the Company's relationship with significant customers; the outcome of discussions with customers concerning potential antitrust claims; the impact of negative publicity; environmental challenges and natural conditions facing the Company's aquaculture business; the impact of laws and regulations; operating hazards, including marine disasters, spills or environmental damage; the conditions and factors that may influence the decision to issue future dividends; and the market for long-term debt. Many of these factors are beyond the Company's ability to control or predict. Given these factors, you should not place undue reliance on the forward-looking statements. Should one or more of these risks or uncertainties occur, or should management's assumptions or estimates prove incorrect, actual results and events may vary materially from those discussed in the forward-looking statements.